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Gricd

Operating

Gricd is an Nigerian startup which aims to play a part in bridging the gaps in the healthcare cold chain in Sub-Saharan Africa.

Updated Source: SLA Startup IndexHow we verify →
Total raised
$1.9M
disclosed
Last round
$1.5M
Seed
Rounds
8
since 2017
Investors
10
on record
Employees
11-50

About Gricd

In Africa, 52% of children hospitalized with severe and life-threatening anemia who are not able to receive a blood transfusion immediately die by 8 hours with 90% of these deaths occurring within 2.5 hours of hospital admission (ICCARE). Only 4% of children who received a transfusion within 8 hours die, emphasizing the importance of the availability of blood transfusion as a life-saving intervention The most common cause of maternal deaths in Africa is severe bleeding, which contributes to over 40% of maternal deaths. It has been estimated that a quarter of these women die because of blood shortages due to the unavailability of the cold chain. The lack of reliable cold storage and inefficient cold chain management results in high waste rates and poor immunization coverage (MSF, 2014). WHO (2014) reports that in 2011, more than 2.8 million doses of vaccines were lost due to cold chain disruptions in five countries, and various studies pointed out the risk of vaccine freezing. Vaccines that are exposed to too hot or too cold temperatures may not only lose their effectiveness but also prove deadly to the vulnerable populations they are intended to protect Gricd aims to play a part in bridging the gaps in the healthcare cold chain in Sub-Saharan Africa. To this effect Gricd was setup with majorly two (2) objectives; 1. To build innovative, affordable cold chain solutions for storage and transportation by embedding technology with already available social science solutions to enhance the efficiency of the solution. 2. To educate individuals in the relevant industries about modern and standardized cold chain practices.

Gricd funding8 rounds

All 8 rounds →

Gricd has raised $1.9M across 8 disclosed rounds. The latest is a $1.5M Seed announced 15 May 2023, led by Atlantica Ventures.

Capital growthrunning total of disclosed rounds
  1. $20KGrantGrant, $20K, $20K raised to date
  2. $3KGrantGrant, $3K, $23K raised to date
  3. $140KAngelAngel, $140K, $163K raised to date
  4. $100KConvertible NoteConvertible Note, $100K, $263K raised to date
  5. $110KGrantGrant, $110K, $373K raised to date
  6. $50KNon-equity AssistanceNon-equity Assistance, $50K, $423K raised to date
  7. $1.5MSeedSeed, $1.5M, $1.9M raised to date

SLA Funding Index · grey is capital raised before each round · 1 undisclosed round not drawn

AnnouncedRoundLead · investorsAmount
15 May 2023Gricd SeedAtlantica Ventures +3$1.5M
26 Sep 2022Gricd Non-equity AssistanceInvesting in Innovation (i3)$50K
19 Nov 2021Gricd GrantAfrica’s Business Heroes (ABH)$110K
11 Oct 2021Gricd Non-equity AssistanceGoogleNot disclosed
20 Dec 2020Gricd Convertible NoteThird Derivative$100K
02 Aug 2020Gricd AngelNot disclosed$140K
17 Dec 2019Gricd GrantGreenhouse Lab$3K
05 Sep 2018Gricd GrantFbStart$20K

Gricd founders & team

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Frequently asked about Gricd

Where is Gricd based and when was it founded?
Gricd is headquartered in Lagos, Nigeria and was founded in 2017.
Who founded Gricd?
Gricd was founded by Oghenetega Iortim (Founder and CEO).
Who is the CEO of Gricd?
Oghenetega Iortim is Gricd's Founder and CEO.
How much funding has Gricd raised?
Gricd has raised $1.9M across 8 disclosed rounds. Its latest, a $1.5M Seed, was announced on May 15, 2023.
Who has invested in Gricd?
Backers include Atlantica Ventures, VestedWorld, Katapult, Jaza Rift Ventures and 6 others.
What sector is Gricd in?
Gricd operates in MedTech, Pharmaceutical and Delivery.